Tag Archives: deforestation

Weekly News Check-In 3/12/21

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Welcome back.

Three areas we’re watching closely this week include the Weymouth compressor station, where an upcoming federal review of safety and health concerns has prompted individuals and groups to register as “interveners”.  Also the highly controversial biomass generating plant proposed for Springfield, which was the subject of a blatant greenwashing effort by its Chief Operating Officer, Vic Gatto – we posted a response from Partnership for Policy Integrity that cuts through the misinformation. And landmark climate legislation, now in final form and mostly intact, but temporarily held up by Republicans in the Massachusetts Senate.

For those of you following the big pipeline battles, we have reports on Dakota Access and the Enbridge Lines 3 & 5. Line 3 construction is pushing ahead in Northern Minnesota, drawing fierce protests from indigenous groups.

The movement to divest from fossil fuels has achieved considerable success, but we’re expanding our view to consider other climate-warming business sectors that are cooking the planet with support from big banks and funds. We offer a report on some agricultural practices that fall squarely in this category. Since all that divested money needs a home, a new kind of bank is investing in a greener economy.

Climate modeling predicts that periodic heat + humidity events could make much of the tropics – home to 3 billion people – uninhabitable for humans once we exceed 1.5C temperature rise above the pre-industrial baseline. We pair that with a report on China’s recently released Five Year Plan, with its decidedly unambitious decarbonization policy.

There’s good news for offshore wind in general, and Vineyard Wind in particular. A Massachusetts program that vastly opens up possibilities for energy storage is spreading throughout the New England grid, and heavy shipping is our clean transportation focus this week.

We continue to follow the disturbing developments at the International Code Council, which recently changed rules and locked out municipal officials from voting on updates to the energy efficiency building code.

A combination of distributed energy resources (solar, wind, battery storage) is now cheaper and more resilient than the fossil-fueled “peaker” power plants that electric utilities have traditionally relied on during periods of high demand. We found an article that explores the change in thinking required to make the change happen.

The fossil fuel industry is still struggling to recognize that fracking has been a complete financial disaster. Meanwhile, White House National Climate Adviser Gina McCarthy says the administration has moved beyond immediate consideration of a carbon tax – preferring regulation, incentives, and other actions as more effective ways to draw down fuel consumption and emissions. And we close this section with a disturbingly bullish industry report predicting record growth in deepwater oil extraction in the next five years – multiplying the sort of risks that BP’s Deepwater Horizon demonstrated so spectacularly just eleven years ago.

We recently reported on a permanent fracking ban imposed throughout the Delaware River Basin, which opponents of the planned liquefied natural gas export terminal in Gibbstown, NJ saw as a potentially fatal blow to that project. All eyes are on New Jersey Governor Phil Murphy – who signed the fracking ban in spite of past support for the Gibbstown project – to see if he’s also disturbed by fracking that occurs farther away, in other people’s backyards.

We wrap up with a report on fossil fuel’s petrochemical cousin – plastic  – and its increasing presence in the environment. A new study finds that marine fish ingest the stuff at twice the rate as they did just a decade ago.

button - BEAT News button - BZWI  For even more environmental news, info, and events, check out the latest newsletters from our colleagues at Berkshire Environmental Action Team (BEAT) and Berkshire Zero Waste Initiative (BZWI)!

— The NFGiM Team

 

WEYMOUTH COMPRESSOR STATION

Weymouth intervenors
Council dealt setback with filing compressor brief
By Ed Baker, Wicked Local
March 9, 2021

Town Solicitor Joseph Callanan said legal precedents don’t allow Town Council to file a legal brief with federal regulators about safety and health concerns posed by a natural gas compressor station in the Fore River Basin.

“Collectively, the Town Council does not have the authority to sue,” he said during a Council meeting, March 8.  “If you do it as individuals, I have no problem with that.”

Councilor-at-large Rebecca Haugh said her colleagues could draft a letter that details their concerns about the compressor station and give it to residents or community groups who seek an intervenor status with the Federal Energy Regulatory Commission.

“Any intervenor could use that letter,” she said.

Residents and community groups have until Thursday, March 11, to register as an intervenor with FERC. 

The Council could approve the letter when it meets, 7:30 p.m. March 15.

Approval of each councilor’s correspondence would require them to be independent intervenors when filing a brief with FERC.

Callanan said the Council couldn’t represent itself as a legal body partly because Weymouth agreed not to appeal judicial decisions that favored the compressor station owner Enbridge Inc. and its subsidiary Algonquin Gas Transmission. 

The town’s decision to not appeal the court rulings is part of a $38 million Host Community Agreement that Mayor Robert Hedlund and Enbridge agreed to in October 2020.
» Read article          

» More about the Weymouth compressor station           

 

PIPELINES

DAPL crossroadsDAPL has reached a crucial crossroads. Here’s a guide to North Dakota’s bitter pipeline dispute
If you haven’t followed every turn in the Dakota Access Pipeline’s federal court hearings, here’s an up-to-date primer on the years-long pipeline saga.
By Adam Willis, Inforum
March 10, 2021

In the last four years, the Dakota Access Pipeline has become a defining conflict, not only in North Dakota but for a national reckoning over America’s climate and energy future. But in the years since the smoke of protest clashes near the Standing Rock Sioux Reservation has cleared, the pipeline dispute has carried on more quietly, with many of the biggest decisions being hashed out in courtrooms in Washington, D.C.

With a new president in the White House, DAPL backers and opponents alike have felt that the embattled project may be at another decisive moment. But after a tumultuous year for the pipeline, what has changed, and what is still undecided?
» Read article          

focus on line 3The next big oil pipeline battle is brewing over Line 3 in Minnesota
By Hari Sreenivasan, PBS NewsHour
March 6, 2021

On his first day in office, president Biden signed an executive order to stop construction of the Keystone XL pipeline. But now, many people in the Great Lakes region are asking the Administration to halt a different pipeline project they believe poses an even greater threat to indigenous communities and local waterways. And as NewsHour Weekend’s Ivette Feliciano reports, experts and climate advocates say it’s time to stop oil pipeline projects in the U.S. once and for all.
» Watch report or read article          

oil and water
Between Oil And Water: The Issue With Enbridge’s Line 5
By Jaclyn Pahl, Organization for World Peace
March 3, 2021

Two pipelines have been lying at the bottom of the Great Lakes for six decades. Carrying more than half a million barrels of oil and natural gas liquids every day, Enbridge Inc.’s Line 5 runs from Superior, Wisconsin to Sarnia, Ontario. The pipeline passes under the environmentally sensitive Straits of Mackinac—a narrow waterway that connects Lakes Michigan to Lake Huron. The Strait has shallow water, strong currents, and extreme weather conditions (becoming frozen during winter). If a pipe were to rupture, the oil would reach shorelines, accumulate, and jeopardize Great Lakes Michigan and Huron’s ecology. Citing environmental concerns, Michigan state officials have demanded that the Canadian company close Line 5.

Petroleum reaches Line 5 from Western Canada. Starting in Superior, Wisconsin, Line 5 travels east through Wisconsin to the Upper Peninsula of Michigan. The pipeline runs along the shore of Lake Michigan until it reaches the Straits of Mackinac. Here, the pipeline splits into two, and each is 20 inches (51 centimetres) in diameter. The lines reunite on the southern side of the straits. The pipeline continues south, crossing the border and terminating in Sarnia, Ontario. The oil and natural gas liquids in Line 5 feed refineries in Michigan, Ohio, Pennsylvania, Ontario, and Quebec.

Conscious of environmental concerns, on 13 November 2020, Michigan governor Gretchen Whitmer demanded that Enbridge halt oil flow through the pipeline within 180 days. A 2016 study by the University of Michigan found that more than 700 miles (or roughly 1,100 kilometres) of shoreline in Lakes Michigan and Huron would be compromised by a Line 5 rupture. The Graham Sustainability Institute used computer imaging to model how the oil potentially could spread. According to their findings, the most significant risk areas include the Bois Blanc Islands, places on the north shore of the Straits, and Mackinaw City. Communities at risk include Beaver Island, Cross Village, Harbor Springs, Cheboygan, and other areas of the shoreline. A pipeline rupture would quickly contaminate Lakes Michigan and Huron’s shorelines and would involve an extensive cleanup.

Enbridge claims Line 5 is in good condition and has never leaked in the past. However, Enbridge has a checkered past when it comes to oil spills. In 2010 an Enbridge pipeline ruptured in the Kalamazoo River (also located in Michigan) and spilled roughly 1 million gallons of crude oil. The spill went undetected for 18 hours, and the United States Department of Transportation fined Enbridge USD 3.7 million. It is one of the largest land-based oil spills in American history. An investigation found the cause of the pipeline breach to be corrosion fatigue due to ageing pipelines. Alarmingly, the pipeline that runs through the Straits of Mackinac is 15 years older than the pipeline that burst in the Kalamazoo River. Additionally, this is not the only time an Enbridge pipeline has leaked oil. Between 1999 and 2013, there have been 1,068 Enbridge oil spills involving 7.4 million gallons of oil.
» Read article          
» Read the 2016 University of Michigan study        

» More about pipelines             

 

PROTESTS AND ACTIONS

house on fire
Enbridge pipeline to Wisconsin draws protests
By NORA G. HERTEL, St. Cloud Times, in Wisconsin State Journal
March 8, 2021

PALISADE, Minn. — The air smelled like sage. Fat snowflakes fell among maple and birch trees. And pipeline opponents clutched pinches of tobacco to throw with their prayers into the frozen Mississippi River.

“We’re all made of water,” said Tania Aubid, a member of the Mille Lacs Band of Ojibwe. “Don’t take water for granted.”

Aubid is a water protector, a resident opponent to the Enbridge Energy Line 3 oil pipeline currently under construction in northern Minnesota. Since November, Aubid has lived at a camp along the pipeline’s route north of Palisade.

The camp in Aitkin County is called the Water Protector Welcome Center. It’s home to a core group of pipeline opponents and a gathering place for others, including 75 students, faculty and their families who visited the site last month.

They held a prayer ceremony along the Mississippi River and talked about what they believe is at stake with the Line 3 replacement project: Minnesota’s fresh water and land, specifically Anishinaabe treaty territory.

“These are my homelands in the 1855 treaty territory,” Aubid said. The camp rests on 80 acres of land owned by a Native American land trust. It abuts the pipeline route.

Aubid spent nine months on the Standing Rock Reservation in North Dakota to demonstrate against the Dakota Access Pipeline, where protesters were sprayed with pepper spray, water cannons and some attacked by dogs.

Demonstrators have taken action to disrupt the construction. Three people recently blocked Enbridge worksites in Savanna State Forest, according to a press release on behalf of the water protector group. Eight were arrested in early January near Hill City. In December, activists camped out in trees along the route.
» Read article          

» More about protests and actions        

 

DIVESTMENT

dangerous bet
Big Banks Make a Dangerous Bet on the World’s Growing Demand for Food
While banks and asset managers are promising to divest from fossil fuels, they are expanding investments in high-carbon foods and commodities tied to deforestation.
By Georgina Gustin, InsideClimate News
March 7, 2021

As global banking giants and investment firms vow to divest from polluting energy companies, they’re continuing to bankroll another major driver of the climate crisis: food and farming corporations that are responsible, directly or indirectly, for cutting down vast carbon-storing forests and spewing greenhouse gas emissions into the atmosphere. 

These agricultural investments, largely unnoticed and unchecked, represent a potentially catastrophic blind spot.

“Animal protein and even dairy is likely, and already has started to become, the new oil and gas,” said Bruno Sarda, the former North America president of CDP, a framework through which companies disclose their carbon emissions. “This is the biggest source of emissions that doesn’t have a target on its back.”

By pouring money into emissions-intensive agriculture, banks and investors are making a dangerous bet on the world’s growing demand for food, especially foods that are the greatest source of emissions in the food system: meat and dairy. 

Agriculture and deforestation, largely driven by livestock production, are responsible for nearly one quarter of global greenhouse gas emissions. By 2030, livestock production alone could consume nearly half the world’s carbon budget, the amount of greenhouse gas the world can emit without blowing past global climate targets. 

“It’s not enough to divest from fossil fuel,” said Devlin Kuyek, a senior researcher at GRAIN, a non-profit organization that advocates for small farms. “If you look at emissions just from the largest meat and dairy companies, and the trajectories they have, you see that these companies and their models are completely unsustainable.”

Those trajectories could put global climate goals well out of reach.
» Read article          

» More about divestment             

 

GREENING THE ECONOMY

Atmos Financial
Climate Fintech Startup Atmos Financial Puts Savings to Work for Clean Energy
Atmos joins a wave of financial startups pushing big banks to stop lending to new-build fossil fuel projects.
By Julian Spector, GreenTech Media
March 10, 2021

Money doesn’t just sit in savings accounts doing nothing. Banks recirculate deposited cash as loans — for cars, homes, even oil pipelines — and pay customers interest for the service.

Startup Atmos Financial ensures that the money its customers deposit will only go to clean energy projects, rather than funding fossil fuel infrastructure. 

“Banks lend out money, and it’s these loans that create the society in which we live,” said co-founder Ravi Mikkelsen, who launched the service on January 12. “By choosing where we bank, we get to choose what type of world we live in.”

Atmos is one entrant working at the intersection of two broader trends in finance: the rise of fintech, in which startups compete to add digital services that traditional banks lack; and the movement to incorporate climate risk and clean energy opportunities into the world of finance. Climate fintech takes aim at the historical entanglement between major banks and the fossil fuel industry to create forms of banking that don’t lead to more carbon emissions.

“It’s a space that’s starting to see more activity,” said Aaron McCreary, climate fintech lead at New Energy Nexus and co-author of a recent report on the sector. “They’re picking up customers. They’re offering products and services that aren’t normalized in Bank of America or Wells Fargo.”
» Read article          

» More on greening the economy            

 

LEGISLATION

Senate stands pat
Senate stands pat on climate change legislation

Bill rejects major amendments proposed by Baker
By Bruce Mohl, CommonWealth Magazine
March 10, 2021

THE SENATE is preparing to pass new climate change legislation that accepts some minor technical changes proposed by Gov. Charlie Baker but rejects compromise language the governor proposed on several contentious issues.

The Senate bill stands firm in requiring a 50 percent reduction in emissions relative to 1990 levels by 2030, even though the governor had said the 50 percent target would end up costing Massachusetts residents an extra $6 billion. The governor had proposed a target range of 45 to 50 percent, with his administration having the flexibility to choose the end point.

The Senate bill also doesn’t budge on the need for legally binding emission goals for six industry subsectors, although officials said the bill will grant some limited leeway to the administration in a case where the state meets its overall emission target but misses the goal in one industry subsector.

The bill also rejects compromise language put forward by the administration on stretch energy codes used by municipalities to push through changes in construction approaches.

Sen. Michael Barrett of Lexington, the chamber’s point person on climate change, said it would make no sense to back down on the 50 percent emission reduction goal for 2030 given that the Biden administration is preparing to adopt roughly the same goal next month on Earth Day. Barrett said John Kerry, Biden’s climate czar, is expected to adopt the 50 percent target as a national goal by 2030. The national goal uses a different base year than Massachusetts, but Barrett said the outcomes are very similar.
» Read article          
» What’s behind Baker’s $6B cost claim?              

ITC for storage
Investment tax credit for energy storage a ‘once in a generation opportunity towards saving planet’
By Andy Colthorpe, Energy Storage News
Image: Andy Colthorpe / Solar Media.
March 10, 2021

A politically bipartisan effort to introduce investment tax credit (ITC) incentives to support and accelerate the deployment of energy storage in the US could be a “once in a generation opportunity” to protect the future of the earth.

The Energy Storage Tax Incentive and Deployment Act would open up the ITC benefit to be applied to standalone energy storage systems. The ITC has transformed the fortunes of the US solar industry over the past decade but at present, the tax relief can only be applied for energy storage if batteries or other storage technology are paired with solar PV and installed at the same time.

Moves to push for an ITC have been ongoing since at least 2016. Yesterday, politicians from across the aisle in Congress put forward their bid to introduce it once more. Representatives Mike Doyle, a Democrat from Pennsylvania’s 18th Congressional District, Republican Vern Buchanan from Florida’s 16th Congressional District and Earl Blumenauer, a Democrat from Oregon’s 3rd district introduced the Act which would apply the standalone ITC for energy storage at utility, commercial & industrial (C&I) and residential levels.

“The Energy Storage Tax Incentive and Deployment Act would encourage the use of energy storage technologies, helping us reach our climate goals and create a more resilient and sustainable future,” Congressman Mike Doyle said.

“Cost-effective energy storage is essential for adding more renewable energy to the grid and will increase the resiliency of our communities. This bill would promote greater investment and research into energy storage technologies, bolster the advanced energy economy, and create more clean energy jobs.”
» Read article          

» More about legislation           

 

CLIMATE

TW 35C
Global Warming’s Deadly Combination: Heat and Humidity
A new study suggests that large swaths of the tropics will experience dangerous living and working conditions if global warming isn’t limited to 1.5 degrees Celsius.
By Henry Fountain, New York Times
March 8, 2021

Here’s one more reason the world should aim to limit warming to 1.5 degrees Celsius, a goal of the international Paris Agreement: It will help keep the tropics from becoming a deadly hothouse.

A study published Monday suggests that sharply cutting emissions of greenhouse gases to stay below that limit, which is equivalent to about 2.7 degrees Fahrenheit of warming since 1900, will help the tropics avoid episodes of high heat and high humidity — known as extreme wet-bulb temperature, or TW — that go beyond the limits of human survival.

“An important problem of climate research is what a global warming target means for local extreme weather events,” said Yi Zhang, a graduate student in geosciences at Princeton University and the study’s lead author. “This work addresses such a problem for extreme TW.”

The study is in line with other recent research showing that high heat and humidity are potentially one of the deadliest consequences of global warming.

“We know that climate change is making extreme heat and humidity more common,” said Robert Kopp, a climate scientist at Rutgers University who was not involved in the study. “And both of those things reduce our ability to live in a given climate.”

Dr. Kopp, who was an author of a study published last year that found that exposure to heat and humidity extremes was increasing worldwide, said a key contribution of the new work was in showing that, for the tropics, “it is easier to predict the combined effects of heat and humidity than just how hot it is.”

Ms. Zhang, along with two other Princeton researchers, Isaac Held and Stephan Fueglistaler, looked at how the combination of high heat and high humidity is controlled by dynamic processes in the atmosphere. They found that if global warming is limited to 1.5 degrees, the wet-bulb temperature at the surface can approach but not exceed 35 degrees Celsius, or 95 degrees Fahrenheit, in the tropics.

That region, a band roughly 3,000 miles from north to south that encircles Earth at the Equator, includes much of South and East Asia, Central America, Central Africa. It is home to more than 3 billion people.

Above a wet-bulb temperature of 35 Celsius, the body cannot cool down, as sweat on the skin can no longer evaporate. Prolonged exposure to such conditions can be fatal, even for healthy people. Lower but still high wet-bulb temperatures can affect health and productivity in other ways.
» Read article          

Xi baby steps
China’s Five Year Plan disappoints with “baby steps” on climate policy
By James Fernyhough, Renew Economy
March 8, 2021

On Friday the Chinese government released some long-awaited detail on its latest five year plan, and it was not the news many were hoping for – especially after President Xi Jinping’s surprise promise to go “carbon neutral” by 2060.

Rather than following up that 2060 pledge with a radical, immediate action to curb emissions, the plan contains no absolute emissions targets, and is light on any detail of comprehensive, workable strategies to make China’s energy sector emissions free.

Lauri Myllyvirta, lead analyst as the Centre for Research on Energy and Clean Air, describes it as “baby steps towards carbon neutrality”.

“The overall five-year plan just left the decision about how fast to start curbing emissions growth and displacing fossil energy to the sectoral plans expected later this year – particularly the energy sector five-year plan and the CO2 peaking action plan. The central contradiction between expanding the smokestack economy and promoting green growth appears unresolved,” he wrote on Friday.

The most ambitious emissions reduction policy in the document was a target to reduce emissions intensity by 18 per cent by 2025. Given over the last five years China’s emissions intensity has fallen by 18.8 per cent, this looks like a “business as usual” approach.

China’s emissions have carried on rising over the last five years even with emissions intensity reduction – Myllyvirta puts it at an average of 1.7 per cent a year – and look likely to continue. China already contributes close to 30 per cent of the world’s CO2 emissions.
» Read article          

» More about climate                     

 

CLEAN ENERGY

Vineyard Wind permiit moving
Biden’s interior acts quickly on Vineyard Wind
By Colin A. Young, State House News Service, on WWPL.com
March 8, 2021

Federal environmental officials have completed their review of the Vineyard Wind I offshore wind farm, moving the project that is expected to deliver clean renewable energy to Massachusetts by the end of 2023 closer to becoming a reality.

The U.S. Department of the Interior said Monday morning that its Bureau of Ocean Energy Management completed the analysis it resumed about a month ago, published the project’s final environmental impact statement, and said it will officially publish notice of the impact statement in the Federal Register later this week.

“More than three years of federal review and public comment is nearing its conclusion and 2021 is poised to be a momentous year for our project and the broader offshore wind industry,” Vineyard Wind CEO Lars Pedersen said. “Offshore wind is a historic opportunity to build a new industry that will lead to the creation of thousands of jobs, reduce electricity rates for consumers and contribute significantly to limiting the impacts of climate change. We look forward to reaching the final step in the federal permitting process and being able to launch an industry that has such tremendous potential for economic development in communities up and down the Eastern seaboard.”

The 800-megawatt wind farm planned for 15 miles south of Martha’s Vineyard was the first offshore wind project selected by Massachusetts utility companies with input from the Baker administration to fulfill part of a 2016 clean energy law. It is projected to generate cleaner electricity for more than 400,000 homes and businesses in Massachusetts, produce at least 3,600 jobs, reduce costs for Massachusetts ratepayers by an estimated $1.4 billion, and eliminate 1.68 million metric tons of carbon dioxide emissions annually.
» Read article          

protective suitsInside Clean Energy: 10 Years After Fukushima, Safety Is Not the Biggest Problem for the US Nuclear Industry
Proponents want atomic energy to be part of the clean energy transition, but high costs are a major impediment.
By Dan Gearino, InsideClimate News
March 11, 2021

Today is an uncomfortable anniversary for the nuclear industry and for people who believe that nuclear power should be a crucial part of the transition to clean energy.

On March 11, 2011, an earthquake and tsunami led to waves so high that they engulfed the Fukushima Daiichi nuclear power plant in Japan, wrecking the backup generators that were responsible for cooling the reactors and spent fuel. What followed was a partial meltdown, evacuations and a revival of questions about the safety of nuclear power.

Ten years later, it would be easy to look at the moribund state of nuclear power in the United States and in much of the rest of the world and conclude that the Fukushima incident must have played a role. But safety concerns that Fukushima highlighted, while important, are not the main factors holding back a nuclear renaissance. The larger problem is economics, and the reality that nuclear power is substantially more expensive than other sources.

Indeed, one of the remarkable things about Fukushima’s legacy in the United States isn’t how much things have changed in the nuclear industry, but how little.

The high costs of nuclear power are part of why Gregory Jaczko, who was chairman of the Nuclear Regulatory Commission at the time of the Fukushima disaster, thinks that new nuclear plants are not likely to be a substantial part of the energy transition.

“If we need nuclear to solve climate change, we will not solve climate change,” he told me, adding that much of the talk of nuclear as a climate solution is “marketing P.R. nonsense.”
» Read article          

 » More about clean energy            

 

ENERGY EFFICIENCY

NBI on codes
New ICC framework sidelines local government participation in energy code development
NBI strongly opposes changes, which make action on climate “non-mandatory”
By New Buildings Institute
March 4, 2021

The International Code Council (ICC) announced today a new framework that changes the essential nature of the International Energy Conservation Code (IECC) development process from a model energy code to a standard. The change, described in vague terms in the ICC material, is impactful because it reduces the opportunity for cities and states to shape future versions of the IECC, even though they must subsequently adopt and implement it.

New Buildings Institute (NBI) opposes this outcome, which NBI staff testified against during an ICC Board of Directors meeting on this proposed change in January. NBI, a national nonprofit organization, has been working with jurisdictions and partners to support development and advancement of model energy codes for over 20 years, including participating in the IECC development process.

To update the 2021 IECC, thousands of government representatives voted loud and clear in favor of a 10% efficiency improvement that will reduce energy use and carbon emissions in new construction projects. These voters answered the call of the ICC for increased participation in the development process and took seriously their role as representatives of their jurisdiction’s goals and interests around climate change. Now, government officials will lose their vote, and instead appointed committees will make the determination of efficiency stringency for new homes and commercial buildings with no directive toward improvements needed to address the current climate crisis. Buildings account for 40% of the carbon emissions in the United States. The nation cannot address climate change without addressing buildings.

“The published changes to the code’s intent fundamentally stall progress on advancing efficiency and building decarbonization and fail to meet the need of the moment as the impacts from climate change bear down upon us,” said Kim Cheslak, NBI Director of Codes. “In addition to reducing governmental member involvement, the changes adopted by ICC will ensure that measures directly targeting greenhouse gas (GHG) emissions and the achievement of zero energy buildings in the IECC will only be voluntary, and subject to the approval of an unidentified Energy and Carbon Advisory Committee and the ICC Board of Directors. We have seen the make-up of committees have a detrimental impact all too often in previous code cycles when industry interests fight efficiency improvements from inside black-box processes,” Cheslak said.
» Read article          

» More about energy efficiency            

 

ENERGY STORAGE

connected solutions
A new program is making battery storage affordable for affordable housing (and everyone else)
By Seth Mullendore, Utility Dive
March 9, 2021

The battery storage market for homes and businesses has been steadily growing over the past few years, driven by falling battery prices, demand for reliable backup power and the potential to cut energy expenses. However, the uptake of customer-sited battery storage has not been equally distributed across geographic regions or customer types, with higher-income households driving residential sales and larger energy users with high utility demand charges leading the commercial sector. This has left many behind, particularly lower-income households and small-commercial properties, like community nonprofits and affordable housing providers.

However, a battery storage program first launched in Massachusetts, and now available in Rhode Island, Connecticut and New Hampshire, is beginning to transform the landscape for battery storage in homes, businesses and nonprofits. Unlike most battery storage programs and incentives, the design of the program, known as ConnectedSolutions in Massachusetts, focuses on supporting the energy needs of the regional electric grid instead of limiting the benefits to individual facilities.

A 2017 study published by the National Renewable Energy Laboratory and Clean Energy Group found that up to 28% of commercial customers across the country might be on a utility rate with high enough demand charges to make battery storage economical, which has been the primary driver for commercial markets. That represents around 5 million commercial customers, which is a lot, but it also represents an upper boundary of potential customers.

Even with high demand charges, a property needs to have a peaky enough energy profile — one with spikes in energy usage when power-intensive equipment is operating such as a water pump — in order for battery storage to cost-effectively manage and reduce onsite demand. Many customers, like multifamily affordable housing for instance, have energy usage profiles with broad peaks lasting multiple hours that would be difficult to economically manage with batteries.

The ConnectedSolutions program model solves this problem by compensating battery systems for reducing systemwide peak demand, which is when utilities pay the most for electricity — high costs that get passed on to all customers. A major benefit of this approach is that it creates a revenue stream for battery storage projects that is in no way dependent on a customer’s utility rate structure or how and when the customer uses electricity. Any customer of a regulated utility in a state where a program like ConnectedSolutions is available can participate and get the same economic benefit, regardless of whether that customer represents a large factory, a small community center, or a single-family household.
» Read article          

» More about energy storage                  

 

CLEAN TRANSPORTATION

MaerskThe world’s first ‘carbon-neutral’ cargo ship is already low on gas
By Maria Gallucci, Grist
March 8, 2021

When shipping giant Maersk announced last month it would operate a “carbon-neutral” vessel by 2023, the Danish company committed to using a fuel that’s made from renewable sources, is free of soot-forming pollutants — and is currently in scarce supply.

“Green methanol” is drawing interest from the global shipping industry as companies work to reduce greenhouse gas emissions and curb air pollution in ports. The colorless liquid can be used as a “drop-in” replacement for oil-based fuels with relatively minor modifications to a ship’s engine and fuel system. It’s also easy to store on board and, unlike batteries or tanks of hydrogen, it doesn’t take away too much space from the cargo hold.

Maersk’s plan to run its container ship on sustainably sourced methanol marks a key milestone for the emerging fuel. Cargo shipping is the linchpin of the global economy, with tens of thousands of vessels hauling goods, food, and raw materials across the water every day. The industry accounts for nearly 3 percent of annual global greenhouse gas emissions, a number that’s expected to rise if ships keep using the same dirty fuels, according to the International Maritime Organization, or IMO, the United Nations body that regulates the industry.

The IMO aims to reduce total shipping emissions by at least 50 percent from 2008 levels by 2050, and to completely decarbonize ships by the end of this century. The policy is accelerating efforts to test, pilot, and scale up more sustainable fuels.

Methanol, or CH₃OH, is primarily used to make chemicals for plastics, paints, and cosmetics. It’s also considered a top candidate for cleaning up cargo ships in the near term, along with liquefied natural gas — a fuel that produces little air pollution but ultimately results in higher emissions of methane, a potent greenhouse gas. Long term, however, the leading contenders are likely to be ammonia and hydrogen, two zero-carbon fuels in earlier stages of development.
» Read article          

» More about clean transportation        

 

ELECTRIC UTILITIES

DER services
‘A total mindshift’: Utilities replace gas peakers, ‘old school’ demand response with flexible DERs
Utility-customer cooperation can balance renewables’ variability with flexibility without using “blunt” demand response or natural gas.
By Herman K. Trabish, Utility Dive
March 8, 2021

Utilities and their customers are learning how their cooperation can provide mutual benefits by using the flexibility of distributed energy resources (DER) to cost-effectively balance the dynamics of the new power system.

The future is in utilities investing in technologies to manage the growth of customer-owned DER and customers offering their DER as grid services, advocates for utilities and DER told a Jan. 25-28 conference on load flexibility strategies. And there is an emerging pattern of cooperation between utilities and customers based on the shared value they can obtain from reduced peak demand and system infrastructure costs, speakers said.

“The utility of the future will use flexible DER to manage system peak, bid into wholesale markets, and defer distribution system upgrades,” said Seth Frader-Thompson, president of leading DER management services provider EnergyHub. “The challenge is in providing the right incentives to utilities for using DER flexibility and adequate compensation to customers for building it.”

Customers need to know the investments will pay off, according to flexibility advocates. And utilities must overcome longstanding distrust of DER reliability to take on the investments needed to grow and manage things like distributed solar and storage and electric vehicle (EV) charging, they added.

“It will require a total mind shift by utilities away from old school demand response,” said Enbala Vice President of Industry Solutions Eric Young. “Many utility executives have never envisioned a system where thousands of assets can be controlled fast enough to ensure they get the needed response.”

Customer demand for DER and utilities’ need for flexibility to manage their increasingly variable load and supply are rapidly driving utilities toward cooperation, conference representatives for both agreed. And though technology, policy and market entry barriers remain, an understanding of how new technologies make flexible resources reliable and cost-effective is emerging.
» Read article          

» More about electric utilities             

 

FOSSIL FUEL INDUSTRY

next time for sure
Analysis: Some Fracking Companies Are Admitting Shale Was a Bad Bet — Others Are Not
By Justin Mikulka, DeSmog Blog
March 5, 2021

Energy companies are increasingly having to face the unprofitable reality of fracking, and some executives are now starting to admit that publicly. But the question is whether the industry will listen — or continue to gamble with shale gas and oil.

In February, Equinor CEO Anders Opedal had a brutally honest assessment of the Norwegian energy company’s foray into U.S. shale. “We should not have made these investments,” Opedal told Bloomberg. After losing billions of dollars, Equinor announced last month that it’s cutting its losses and walking away from its major shale investments in the Bakken region of North Dakota.

Meanwhile, at CERAweek, the oil and gas industry’s top annual gathering held the first week of March, the CEO of Occidental Petroleum (OXY), Vicki Hollub, told attendees: “Shale will not get back to where it was in the U.S.”

“The profitability of shale,” she said, “is much more difficult than people ever realized.”

Admissions of questionable profits and the end of growth from a top CEO charts new territory for the shale industry. These comments come after a decade of fracking which has resulted in losses of hundreds of billions of dollars.

But despite the unsuccessful investments and fresh warnings, some companies continue to promise investors that the industry has finally figured out how to make profits from fracking for oil and gas. While not a new argument, these companies are offering new framing — a “fracking 4.0” if you will — focused on new innovations, future restraint, and real profits.

In February, for instance, as fracking pioneer Chesapeake Energy emerged from bankruptcy the company’s CEO Doug Lawler told Bloomberg: “What we see going forward is a new era for shale.”

Meanwhile, Enron Oil and Gas (EOG) — considered one of the best fracking companies — lost over $600 million in 2020. Despite this, the company is now touting “innovations” it has made to help create future profits along with promises of new profitable wells — part of an industry annual ritual promising new technologies and new acreage that will finally deliver profits to their investors.
» Read article          

Gina McCarthy
The Petroleum Industry May Want a Carbon Tax, but Biden and Republicans are Not Necessarily Fans
The new administration has made clear that its approach to reducing emissions will involve regulation, incentives and other government actions.
By Marianne Lavelle and Judy Fahys, InsideClimate News
March 8, 2021

The largest U.S. oil industry trade group is considering an endorsement of carbon taxes for the first time. But the biggest news may be how little that is likely to matter, as U.S. climate policy moves decisively in an entirely different direction.

The American Petroleum Institute confirmed that its member companies are trying to arrive at a consensus about carbon pricing—a position that almost certainly will involve trade-offs, including less government regulation, in exchange for the industry’s support of taxes or fees.

Economists have long favored making fossil fuels more expensive by putting a price on carbon as the most simple and cost-effective way to cut carbon dioxide emissions. Most big oil companies, including ExxonMobil, BP, Shell, and Chevron, endorse carbon pricing, although they have done little to push for it becoming policy. But API’s move for an industry-wide position comes just as the Biden administration has made clear that it is moving forward with regulation, investment in clean energy research and deployment and a broad suite of other government actions to hasten a transition from energy that releases planet-warming pollution.

Unsurprisingly, many view the API move as a cynical effort to stave off a looming green  onslaught. “The American Petroleum Institute is considering backing a carbon tax — but only to prevent ambitious regulation of greenhouse emissions,” tweeted the Center for Biological Diversity.

The White House had no immediate comment on the news. But for now, anyway, there is little sign that the Biden administration is prepared to surrender regulatory authority on climate in exchange for a tax. Biden’s team includes avowed advocates of carbon taxes—most notably, Treasury Secretary Janet Yellen. But the unmistakable message from the White House is that it will pursue a government-led drive for action on climate change, not a market-driven approach where taxes or fees do most of the work of weaning the nation off fossil fuels. The administration clearly has been influenced by political and economic thinkers who argue that pricing carbon may be necessary for reaching the goal of net zero emissions, but it would be more politically savvy—and ultimately, more effective—to start with other action to mandate or incentivize cuts in greenhouse gas pollution.

“The problem with doing taxes or even a cap-and-trade program as your first step is that produces a lot of political resistance,” said Eric Biber, a professor at the University of California’s Berkeley Law school. “Basically, you’ve made an enemy of everyone who makes money off of carbon. And if you win, you’re probably only going to get a small tax.”

He and other experts agree that a small tax won’t drive the kind of investment or economic transformation needed to achieve Biden’s ambitious goal of putting the nation on a path to net-zero emissions by 2050, and his interim target of carbon pollution-free electricity by 2035.
» Read article          

deepwater trending
Offshore Oil & Gas Projects Set For Record Recovery
By Tsvetana Paraskova, Oil Price
March 5, 2021

Operators are expected to commit to developing a record number of offshore oil and gas projects over the next five years, with deepwater projects set for the most impressive growth, Rystad Energy said in a new report this week.

The energy research firm has defined in its analysis a project as ‘committed’ when more than 25 percent of its overall greenfield capital expenditure (capex) is awarded through contracts.

Offshore oil and gas development is not only set to recover from the pandemic shock to prices and demand, which forced operators to slash development expenditures and delay projects. It is set for a new record in project commitments in the five-year period to 2025, according to Rystad Energy.

Offshore oil has already started to show signs of emerging from last year’s crisis, as costs have been slashed since the previous downturn of 2015-2016. Deepwater oil breakevens have dropped to below those of U.S. shale supply, making deepwater one of the cheapest new sources of oil supply globally, Rystad Energy said last year.
» Read article          
» Read the Rystad Energy report              

» More about fossil fuel              

 

LIQUEFIED NATURAL GAS

Gibbstown LNG opposition
Foes of South Jersey LNG plan say new frack ban might help their cause
Murphy under pressure to ‘walk the talk’ and say how he would ‘prevent’ construction of export terminal for fracked gas
By Jon Hurdle, NJ Spotlight News
March 9, 2021

A historic decision to ban fracking for natural gas in the Delaware River Basin is raising new questions about plans for a South Jersey dock where fracked gas would be exported in liquid form.

On Feb. 25, Gov. Phil Murphy and the governors of Pennsylvania, New York and Delaware voted at the Delaware River Basin Commission to formally block the controversial process of harvesting natural gas, on the grounds that it would endanger water supplies for some 15 million people in the basin. Murphy’s vote on that ban is prompting opponents of the dock to ask whether they now have a better chance of stopping the project that he has so far supported.

Critics argue that building the dock at Gibbstown in Gloucester County would be at odds with the new policy made explicit in that vote because it would stimulate the production of fracked gas that could contaminate drinking water and add to greenhouse gas emissions even though the gas would be coming from northeastern Pennsylvania outside the Delaware River Basin.

And the fracked gas would be transported in a round-the-clock procession of trucks or trains in a region that has finally rejected the technique of harvesting natural gas, which has been blamed for tainting water with toxic drilling chemicals, and industrializing many rural areas where gas wells are built.

If successful, the port project would provide new global market access for the abundant gas reserves of Pennsylvania’s Marcellus Shale, one of the richest gas fields in the world, whose development since the mid-2000s has been hindered by low prices and a shortage of pipelines. The Pennsylvania gas would be sold in liquid form to overseas markets, especially in Asia, where prices are much higher than in the U.S.
» Read article          

» More about LNG              

 

BIOMASS

Markey-Warren biomass letter
Palmer Renewable Energy can’t greenwash its emissions away (Guest viewpoint)
By Mary S. Booth, MassLive | Opinion
March 8, 2021

Mary S. Booth is the director of Partnership for Policy Integrity

Vic Gatto’s Guest Viewpoint (Feb. 26) touting the benefits of the controversial wood-burning power plant he wants to build in East Springfield is packed full of fallacies and misinformation. Gatto begins by claiming that the plant will generate “clean green power” but the truth is that clean energy never comes out of a smokestack. He wants you to believe that just because the plant has a permit, it won’t pollute.

For twelve years, the people of Springfield and surrounding communities have made their opposition to this plant clear. Springfield residents already suffer from disproportionately high rates of asthma and heart attack hospitalizations, poor air quality, and inadequate access to health care, according to state environmental health tracking data. Attorney General Maura Healey’s office has written that “The proposed biomass facility in Springfield would jeopardize the health of an environmental community already deemed the nation’s ‘asthma capital.’” The people of Springfield have fought hard to clean up other sources of air pollution in their community — like the Mount Tom coal plant, another facility that claimed to use “state of the art” pollution controls — and are tired of being treated as an environmental sacrifice zone.

In addition to downplaying the health risks, Gatto continues to make unsubstantiated claims about the climate benefits of his project. Gatto claims that burning “waste” wood such as tree trimmings will result in less greenhouse gas pollution “compared to allowing it to decompose to methane on the ground.” This is false – and not supported in the DOER studies Gatto cited. Burning a ton of green wood releases about a ton of carbon dioxide into the atmosphere instantaneously. That same ton of wood, if left to decompose naturally, would gradually emit carbon dioxide over a span of 10-25 years, returning some of the carbon to the soil and forest ecosystem. Methane – a much more potent climate-warming gas – is only created when oxygen is not available. In fact, the 30-foot high, 5,000 ton wood chip pile that Palmer will be allowed to store on site under its operating permit will be far more likely to create the kind of low-oxygen conditions that produce methane than chipping wood trimmings and leaving them in the forest to decompose.

While the Palmer developers have prevailed so far in the courts, they need access to lucrative state and federal renewable energy subsidies in order to make their project financially viable. In this, they have found a willing partner in Gov. Charlie Baker and his top advisor, DOER Commissioner Patrick Woodcock. At Palmer’s request, and over the objection of citizens, environmental groups, and elected officials across the state, the Baker Administration is planning to roll back Massachusetts’ existing science-based protections so that polluting biomass power plants like Palmer will qualify for millions of dollars each year through the state’s Renewable Portfolio Standard.

Instead of wasting clean energy incentives on biomass energy, the Baker Administration should be directing those subsidies towards truly green, clean, and carbon-free energy generation. The public can weigh in directly, by going to www.notoxicbiomass.org and sending Governor Baker a strong message that Massachusetts residents do not want to subsidize Palmer’s polluting power. Springfield residents will be harmed first and worst by this proposal, but we all lose if we allow our clean energy dollars to support false climate solutions like biomass energy.
» Read article          

» Read Mr. Gatto’s greenwash piece          
» Read Attorney General Healey’s comments on proposed changes to the Renewable Portfolio Standard               

» More about biomass            

 

PLASTICS IN THE ENVIRONMENT

chinook
New Study Shows Fish Are Ingesting Plastic at Higher Rates
By Tara Lohan, EcoWatch
March 8, 2021

Each year the amount of plastic swirling in ocean gyres and surfing the tide toward coastal beaches seems to increase. So too does the amount of plastic particles being consumed by fish — including species that help feed billions of people around the world.

A new study published in the journal Global Change Biology revealed that the rate of plastic consumption by marine fish has doubled in the last decade and is increasing by more than 2% a year.

The study also revealed new information about what species are most affected and where the risks are greatest.

The researchers did a global analysis of mounting studies of plastic pollution in the ocean and found data on plastic ingestion for 555 species of marine and estuarine fish. Their results showed that 386 fish species — two-thirds of all species — had ingested plastic. And of those, 210 were species that are commercially fished.

Not surprisingly, places with an abundance of plastic in surface waters, such as East Asia, led to a higher likelihood of plastic ingestion by fish.

But fish type and behavior, researchers found, also plays a role. Active predators — those at the top of the food chain, like members of the Sphyrnidae family, which includes hammerhead and bonnethead sharks — ingested the most plastic. Grazers and filter‐feeders consumed the least.
» Read article          
» Read the Global Change Biology study            

» More about plastics in the environment               

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Weekly News Check-In 6/5/20

WNCI-2

Welcome back.

Our friends in Weymouth are celebrating a court victory in their fight against the compressor station. The First Circuit Court vacated MA-DEP’s controversial air quality permit pending further study. Since construction was predicated on having that permit, local mayors petitioned the Federal Energy Regulatory Commission (FERC) to halt activities. In related good news, the Ninth Circuit Court ruled last week to maintain a lower court’s block on federal fast-track permits, which continues to hold up further construction on Keystone XL and other pipelines.

But the Trump/Wheeler Environmental Protection Agency (EPA) is counter-punching. A rule change on Monday to the Clean Water Act limits the rights of states and native American tribes to block pipelines.

The articles we selected for this week’s Greening The Economy section continue that good news / bad news dynamic. While the arc of history seems to be bending toward sustainability and social/environmental justice, progress is opposed by well-funded and entrenched supporters of the status quo. Kudos to Massachusetts Attorney General Maura Healey, for petitioning the Department of Public Utilities this week to begin planning an orderly transition away from natural gas.

The climate urgently needs more of that kind of leadership. Atmospheric CO2 levels hit another record high in May. It’s been 23 million years since Earth last hosted a concentration of 415ppm. Meanwhile, satellite images show rampant deforestation in the Amazon, and some of last summer’s unusual arctic wildfires are reigniting after a winter spent smoldering in the peat under snow cover.

On a brighter note, energy efficiency is looking like a good investment in Europe. Renovating existing homes and businesses for improved energy efficiency will be a huge market, and investors are taking notice. We found signs of progress in clean energy and energy storage, too.

We close with news from the fossil fuel industry. BP seems to want to rebrand itself as a green company while keeping much of its planet-killing business model intact. The oil majors are rethinking their big bet on petrochemicals. And the whole house of cards could come down to the tune of $25 trillion in lost equity on the cratering value of reserves.

— The NFGiM Team

WEYMOUTH COMPRESSOR STATION

permit vacated till do-over
Weymouth Gas Compressor Station Opponents Gain Big Court Victory
The First Circuit Court vacates the air-quality permit issued by the state Department of Environmental Protection.
By Scott Souza, Patch
June 4, 2020

The First Circuit Court ruled Wednesday that “because we find that the (Department of Environmental Protection) did not follow its own established procedures for assessing whether an electric motor was the Best Available Control Technology, we vacate the air permit and remand the agency to redo that analysis.”

While the decision does not halt the Fore River project, obtaining the air-quality permit was a significant hurdle for Algonquin Gas Transmission in the approval process of the station, and a main source of attack from those who want to see the project modified or shut down.

Algonquin Gas Transmission had argued in front of the DEP that the electric motor was not viable because it was not cost effective and put too much strain on the surrounding electrical grid.
» Read article     

Braintree Mayor Charles C. Kokoros Shares Update on Weymouth Compressor Station Project Following Court Ruling
By Matthew Reid Client News, City/Town News
June 3, 2020

Since the Court has now vacated DEP’s air permit approval and is requiring further administrative review, the air permit is no longer in effect, and the FERC condition requiring DEP’s approval for the compressor station has not been met.

Therefore, Braintree intends to join with the other municipalities in demanding that FERC order the immediate cessation of construction work on the station.

“The Town has continued to raise concerns regarding the public health and safety impacts the construction of the compressor station will have on our residents and remain committed to stopping construction,” Mayor Kokoros said.”
» Read article     

tossed for now
Mayor Hedlund: Court ruling won’t stop compressor project
By Jessica Trufant, The Patriot Ledger
June 3, 202
0

WEYMOUTH — While it could delay the project from coming online and cost the gas company money, Mayor Robert Hedlund said a federal appeals court decision to throw out an air permit issued by state regulators will not stop ongoing construction of a natural gas compressor station on the banks of the Fore River.

The U.S. Court of Appeals for the First Circuit on Wednesday overturned the air permit for the natural gas compressor station Enbridge is currently building in North Weymouth, ordering the state Department of Environmental Protection to conduct a new analysis of what would be the best available control technology to limit air pollution.

Judge William Kayatta in his decision said the state did not follow its own procedures when it approved a gas turbine, rather than an electric motor, to cut emissions at the station. The state will need to hold proceedings regarding the control-technology for the project.
» Read article     

» More about the Weymouth compressor station

PIPELINES

still no fast-track
Fast-Track Permits Stay Blocked for Keystone XL, Other Pipes
By Ellen M. Gilmer, Bloomberg Law
May 28, 2020

The Ninth Circuit delivered a major blow to the energy industry Thursday, refusing to freeze a lower court’s decision to block a streamlined permit for Keystone XL and other pipelines.

The Trump administration and energy industry players lost their bid to sideline the ruling, which bars the Army Corps of Engineers from using a fast-track water permitting approach for new oil and gas lines.

The U.S. Court of Appeals for the Ninth Circuit said the government and energy companies “have not demonstrated a sufficient likelihood of success on the merits and probability of irreparable harm to warrant a stay pending appeal.”

Barring any Ninth Circuit reconsideration or a successful petition to the Supreme Court, the decision means the streamlined permitting process will remain off-limits for new pipelines while the parties file briefs and argue the broader appeal to the Ninth Circuit—a process that takes months.
» Read article     

» More about pipelines

ENVIRONMENTAL PROTECTION AGENCY

401 reg rollbackClean Water Act Rollback: Trump’s EPA Limits States’ and Tribes’ Rights to Block Pipelines
By Olivia Rosane, EcoWatch
June 2, 2020

The Trump administration has finalized a rule making it harder for states and tribal communities to block pipelines and other infrastructure projects that threaten waterways.

The change concerns Section 401 of the Clean Water Act, which essentially gives states and tribes veto power over projects that would hurt their water quality, The Hill explained. The changes, announced by the Environmental Protection Agency (EPA) Monday, give states and tribes a one-year deadline for reviewing projects and narrow the scope of what they can consider to only water issues, The New York Times reported. They may no longer block projects because they would contribute to the climate crisis.
» Read article     
» Read the NY Times article        

new look same villain
E.P.A. Limits States’ Power to Oppose Pipelines and Other Energy Projects
The agency tweaked the rules on how to apply the Clean Water Act, which New York and other states have used to fight fossil-fuel ventures.
By Lisa Friedman, New York Times
June 1, 2020

WASHINGTON — The Environmental Protection Agency on Monday announced that it had limited states’ ability to block the construction of energy infrastructure projects, part of the Trump administration’s goal of promoting gas pipelines, coal terminals and other fossil fuel development.

The completed rule curtails sections of the U.S. Clean Water Act that New York has used to block an interstate gas pipeline, and Washington employed to oppose a coal export terminal. The move is expected to set up a legal clash with Democratic governors who have sought to block fossil fuel projects.

Specifically, it limits to one year the amount of time states and tribes can take to review a project and restricts states to taking water quality only into consideration when judging permits. The Trump administration has accused some states of blocking projects for reasons that go beyond clean water considerations, such as climate change impacts.
» Read article     

EPA’s new rule limits states’ ability to regulate pipelines under the Clean Water Act
By Susan Phillips, NPR
June 1, 2020   

A new EPA rule reverses 50 years of practice under the Clean Water Act by diminishing a state’s ability to reject large energy infrastructure projects like interstate pipelines.

It requires states to make decisions within a year on water quality permits related to those projects. Yet states have limited resources to conduct the necessary reviews of such large and complicated projects in that time, and are dependent upon companies providing timely information. As seen with Sunoco’s Mariner East project, permit applications repeatedly fell short of Pennsylvania Department of Environmental Protection’s requirements to review whether the project would preserve water quality.

A wave of new pipeline projects designed to transport shale gas, as well as shale oil and tar sands oil across state lines, has generated massive environmental opposition. One of the few avenues of influence states have over those projects are water pollution permits under section 401 of the federal Clean Water Act. Although the CWA is a federal environmental rule, states and some tribes have enforcement authority.

The new rule stems from an executive order issued by President Trump in April 2019 entitled “Promoting Energy Infrastructure and Economic Growth.”  When he issued that order, Trump called the federal guidance “outdated” and said it was “causing confusion and uncertainty” and hindering development of energy infrastructure.

But lawsuits challenging the constitutionality of the move are sure to follow. Environmental lawyers say it undermines the power of the states to enforce the Clean Water Act that was outlined by Congress when the law was passed in 1972.

“The Trump Administration is trying to re-write the Clean Water Act,” said Maya van Rossum of the Delaware Riverkeeper Network. “This is an absolutely unveiled effort to rob the states of their legal authority protected under the Clean Water Act when it comes to pipelines.”
» Read article     

» More about the EPA

GREENING THE ECONOMY

NEPA bypass EO‘Another Blow to the Black Community’: Trump Waives Environmental Law That Gives Public a Voice in Infrastructure Projects
By Olivia Rosane, EcoWatch
June 5, 2020

President Donald Trump signed an executive order Thursday mandating federal agencies bypass key environmental reviews of energy and infrastructure projects.

Trump said the rule was designed to stimulate the economy in response to the coronavirus pandemic, but critics say the move will disproportionately impact communities of color amidst ongoing national protests following the police murders of George Floyd, Breonna Taylor and many other Black Americans. The order instructs agencies to work around the National Environmental Policy Act (NEPA), which gives communities a chance to weigh in on projects that would impact them, as NPR explained. Fossil fuel projects and highways tend to have a greater effect on Black and Brown communities, as HuffPost pointed out.

“Today President Trump is dealing another blow to the Black community, during a worldwide pandemic and nearly a week into nationwide Black Lives Matter protests against police brutality and structural racism,” House Natural Resources Chairman Raúl M. Grijalva (D-Ariz.) said in a statement reported by HuffPost. “Gutting NEPA takes away one of the few tools communities of color have to protect themselves and make their voices heard on federal decisions impacting them.”
Blog editor’s note: We try to provide examples in this section of movements and policies that benefit future generations and provide hope for those frustrated and alarmed by the status quo. This and the following article is the opposite: a reminder that we are engaged right now in a struggle for that brighter future and the outcome is not yet determined. Your actions matter.
» Read article     
» Read the Executive Order        

one trick pony
Besieged by Protesters Demanding Racial Justice, Trump Signs Order Waiving Environmental Safeguards
Critics said the move to speed pipeline construction would harm minority communities. But one legal expert said the order would be “a sitting duck” in court.
By Marianne Lavelle, InsideClimate News
June 5, 2020

With the nation convulsed by multiple crises, President Donald Trump returned to a favorite stand-by of his presidency—asserting his authority to sweep aside environmental restraints and speed up construction of oil and gas pipelines.

But the executive order that he signed Thursday night—the third of his presidency aimed at expediting pipelines—is destined to spur more of the type of litigation that has rendered his previous directives ineffective so far.

The White House invoked the same legal authority the president has to expedite hurricane and flood response actions to declare an “economic emergency,” that requires the waiving of environmental reviews and other regulations.
» Read article     

AG Healey planning ahead
Healey calls for orderly transition away from natural gas
Petition raises host of questions that need to be answered
By Bruce Mohl, Commonwealth Magazine
June 4, 2020

ATTORNEY GENERAL MAURA HEALEY petitioned the Department of Public Utilities on Thursday to investigate how the state’s natural gas utilities should transition to a future where the fuel they are selling no longer fits in with the state’s carbon emission goals.

Massachusetts has set a goal of zero carbon emissions by 2050, and Healey argues the state, natural gas utilities, and their customers need to start planning. The petition said California and New York have already launched similar investigations.

“As electrification and decarbonization of heating increases, the Commonwealth’s natural gas demand and usage from thermal heating requirements will decline substantially and could be near zero by 2050,” the petition says. “As the Commonwealth reduces its fossil fuel consumption, the Department should establish a consistent regulatory framework that protects customers and maintains reliability and safety during the transition.”

Healey recommended the investigation be conducted in two phases – one phase focusing on utility forecasts about their role in a decarbonized economy and the second on the policies needed to reach the state’s emission mandates. Her petition raises a host of questions that need to be answered, including whether renewable natural gas (gas made from cow manure) has potential.

The attorney general’s petition comes at a time when environmental advocates are pressing for a reduction in natural gas usage even as industry officials say the fuel is cheap, plentiful, and gaining market share.
» Read article     
» Read the AG’s press release        
» Read the petition   

racism and climate
As Protests Rage Over George Floyd’s Death, Climate Activists Embrace Racial Justice
Friends of the Earth tweeted #BlackLivesMatter, and the head of the NRDC promised “to be fully and visibly committed to the fight against systemic racism.”
By ILANA COHEN, EVELYN NIEVES, JUDY FAHYS, MARIANNE LAVELLE, JAMES BRUGGERS, InsideClimate News
June 3, 2020

When New York Communities for Change helped lead a demonstration of 500 on Monday in Brooklyn to protest George Floyd’s killing in Minneapolis, the grassroots group’s activism spoke to a long-standing link between police violence against African Americans and environmental justice.

Elizabeth Yeampierre, executive director of UPROSE, Brooklyn’s oldest Latino community-based organization, said she considers showing up to fight police brutality and racial violence integral to her climate change activism.

Bronx Climate Justice North, another grassroots group, says on its website: “Without a focus on correcting injustice, work on climate change addresses only symptoms, and not root causes.”
» Read article     

push and pull
Covid-19 has given us the chance to build a low-carbon future
Lockdown won’t save the world from warming, but the pandemic is an opportunity to pursue a green economic recovery
By Christiana Figueres, The Guardian
June 1, 2020

The recovery packages designed and implemented by governments to rescue the ailing global economy could rise as high as $20tn over the next 18 months. The scale of this stimulus will shape the contours of the global economy over the next decade, if not longer. This is precisely the decade when climate scientists have warned global emissions will need to be cut by half in order to reach a sustainable trajectory. In the midst of the crisis wreaked by the pandemic is an opportunity: to ensure rescue packages don’t merely recover the high carbon economy of yesterday, but help us build a healthier economy that is low on carbon, high in resilience and centred on human wellbeing.

The case for rebuilding our economies in line with environmental targets has broad public support. A recent poll from Ipsos Mori shows that 71% of the global population understands that climate change is as at least as serious a crisis as Covid-19, and 65% think the former should be prioritised in the economic recovery. This is not only in industrialised countries that can more easily afford to green their economies; 81% of the citizens in India and 80% of people from Mexico were also strongly in favour of a green and healthy economic recovery.

A growing number of corporate leaders are also calling for government stimulus packages to have green strings attached. In the UK, the call from a group of major business leaders for the government to embrace a green recovery was answered by the prime minister’s statement that the UK’s commitment to delivering net zero emissions “remains undiminished”. In Europe, 180 business leaders, policymakers and researchers explicitly urged the EU to build the recovery package around the Green Deal. Meanwhile the Spanish government recently released a draft law banning all new coal, oil and gas projects, establishing the direction of the Covid-19 recovery effort. In Canada, more than 320 signatories representing more than 2,100 companies have signed on to support a resilient recovery.

But it’s not all good news. For every corporate actor that has shown a commitment to greening the economy, there are many that haven’t adhered to these values. Some have used the crisis as an opportunity to roll back environmental commitments or push through controversial projects and laws. Plastic companies in the US have lobbied to reverse single-use plastic laws, while three states have criminalised environmental protest. In Europe, car manufacturers are pushing to loosen emissions standards; globally, airlines are lobbying to stop using 2020 as a baseline emissions year, and China has announced it will loosen environmental legislation to boost the post-coronavirus recovery.

This is the moment to raise voices everywhere and remind leaders of their chief responsibility: protecting their citizens and putting human wellbeing at the centre of the decision-making process.
» Read article     

CA conundrum
How Should California Wind Down Its Fossil Fuel Industry?
California has long had it both ways: pursuing green ambitions while remaining a major oil-producing state. Pressure to change is building.
By Justin Gerdes, GreenTech Media
June 01, 2020

California’s energy past is on a collision course with its future.

Think of major oil-producing U.S. states, and Texas, Alaska, or North Dakota probably come to mind. Although its position relative to other states has been falling for 20 years, California remains the seventh largest oil-producing state, with 162 million barrels of crude coming up in 2018, translating to tax revenue and jobs.

At the same time, California leads the nation in solar rooftops and electric vehicles on the road by a wide margin, and ranks fifth in installed wind capacity. Clean energy is the state’s future. By law, California must have 100 percent carbon-free electricity by 2045, and an executive order signed by former Governor Jerry Brown calls for economywide carbon neutrality by the same year.

So how can the state reconcile its divergent energy path? How should green-minded lawmakers wind down California’s oil and gas sector in a way that aligns with the state’s long-term climate targets while providing a just transition for the industry’s workforce?

Any efforts to reduce fossil fuel supply must run parallel to aggressive demand-reduction measures such as California’s push to have 5 million zero-emission vehicles on the road by 2030, said Ethan Elkind, director of Berkeley Law’s climate program. After all, if oil demand in California remains strong, crude from outside the state will simply fill the void.
» Read article     

just transition chartCountries need to phase out fossil fuels. Here’s how to do it fairly.
Staying within climate limits requires restricting fossil fuel extraction as well as demand. But where and how should it be restricted? Our new paper proposes five principles for equitably managing a phase-out of extraction.
By Greg Muttitt and Sivan Kartha, Oil Change International, blog post
June 1, 2020

The COVID-19 pandemic has shaken up the global energy economy. Wealthy countries have scrambled to support their own fossil fuel industries: Another tar sands pipeline bought with public money in Canada. Bailout funds earmarked for oil and coal companies in the United States. New oil tax reliefs in Norway.

Meanwhile, poor countries are reeling. Nigeria, facing cuts of 25% to government spending, will now fall deeper into debt to pay for dealing with the COVID-19 crisis. Iraq’s salaries and social benefits – which depend on oil revenues for 90% of their funding –  will inevitably be slashed this year. And Ecuador, hobbled by budget cuts, has struggled even to bury the dead.

This contrast of Northern governments propping up oil companies, while Southern societies face devastating disruption, shows the perversities of an energy transition that is unmanaged, unjust, and unsustainable.

So what would a sustainable and just energy transition look like? Our new study – published this week in the peer-reviewed journal Climate Policy – aims to answer that.
» Read article     
» Read the study        

no jobs on a dead planet
Economic Giants Are Restarting. Here’s What It Means for Climate Change.
Want to know whether the world can avert catastrophe? Watch the recovery plans coming out now in Europe, China and the United States.
By Somini Sengupta, New York Times
May 29, 2020

As countries begin rolling out plans to restart their economies after the brutal shock inflicted by the coronavirus pandemic, the three biggest producers of planet-warming gases — the European Union, the United States and China — are writing scripts that push humanity in very different directions.

Europe this week laid out a vision of a green future, with a proposed recovery package worth more than $800 billion that would transition away from fossil fuels and put people to work making old buildings energy-efficient.

In the United States, the White House is steadily slashing environmental protections and Republicans are using the Green New Deal as a political cudgel against their opponents.

China has given a green light to build new coal plants but it also declined to set specific economic growth targets for this year, a move that came as a relief to environmentalists because it reduces the pressure to turn up the country’s industrial machine quickly.
» Read article     

» More about greening the economy       

CLIMATE

23 million year recordAtmospheric Carbon Dioxide Levels Are at Their Highest in 23 Million Years
By Madison Dapcevich, EcoWatch
June 4, 2020

Human activity has pushed atmospheric carbon dioxide to higher levels today than they have been at any other point in the last 23-million-years, potentially posing unprecedented disruptions in ecosystems across the planet, new research suggests.

Understanding atmospheric concentrations of CO2 is “vital for understanding Earth’s climate system” because it “imparts a controlling effect on global temperatures,” said scientists in a study published in Geology.

Previous measurements have turned to ice cores to determine CO2 levels present in the atmosphere throughout Earth’s history, but have only pieced together the last 800,000 years. To expand upon this record, researchers at the University of Louisiana at Lafayette used fossilized remains of ancient plant tissue to produce a record of atmospheric CO2 dating back 31 million years of “uninterrupted Earth history.”
» Read article     
» Read research paper

deforestation Alto Paraiso 2001
deforestation Alto Paraiso 2019
‘Going in the Wrong Direction’: More Tropical Forest Loss in 2019
Brazil was responsible for more than a third of the total global loss in 2019.
By Henry Fountain, New York Times
June 2, 2020

Destruction of tropical forests worldwide increased last year, led again by Brazil, which was responsible for more than a third of the total, and where deforestation of the Amazon through clear-cutting appears to be on the rise under the pro-development policies of the country’s president.

The worldwide total loss of old-growth, or primary, tropical forest — 9.3 million acres, an area nearly the size of Switzerland — was about 3 percent higher than 2018 and the third largest since 2002. Only 2016 and 2017 were worse, when heat and drought led to record fires and deforestation, especially in Brazil.
» Read article     

zombie firesZombie Fires Could Be Awakening in the Arctic
By Mark Kaufman, EcoWatch
June 1, 2020

Some fires won’t die. They survive underground during the winter and then reemerge the following spring, as documented in places like Alaska. They’re called “overwintering,” “holdover,” or “zombie” fires, and they may have now awoken in the Arctic Circle — a fast-warming region that experienced unprecedented fires in 2019. The European Union’s Copernicus Atmosphere Monitoring Service is now watching these fires, via satellite.

Zombie fires smolder underground for months, notably in dense peatlands (wetlands composed of ancient, decomposed plants), and then flare-up when it grows warmer and drier. “Zombie” is fitting.

“It really does describe what these fires do,” said Thomas Smith, an assistant professor in environmental geography at the London School of Economics. “They recover and they’re difficult to kill.”

In April, two snowmachine-riding fire technicians found a zombie fire still smoldering near Willow, Alaska. The fire started in August 2019.

This smoldering can quickly escalate to new blazes. “Zombie fires start burning as soon as the snow melts,” said Jessica McCarty, an Arctic fire researcher and assistant professor in the Department of Geography at Miami University.
» Read article     

» More about climate

ENERGY EFFICIENCY

old and leaky
Renovation firms’ stock rises on EU ‘green recovery’ boost
By Kate Abnett, Reuters
May 29, 2020

BRUSSELS (Reuters) – A pledge from European policy-makers to pour funds into energy-saving refurbishments of old, draughty buildings has boosted the outlook for the green construction sector as it seeks to shake off the impact of the coronavirus, fund managers said.

Buildings absorb 40% of energy consumed in Europe – much of it produced by fossil fuels – threatening the European Commission’s push to cut net European Union emissions to zero by 2050.

The European executive’s stimulus package unveiled on Wednesday to battle the pandemic’s economic fall-out, resolved to fix this.

Investors said the prospect of EU support made firms specialising in renovations more attractive.

It signals “a significant change in terms of the potential growth rates of those companies,” Charlie Thomas, head of strategy and sustainability at London-based Jupiter Asset Management, told Reuters.
» Read article     

» More about energy efficiency      

ENERGY EFFICIENCY

building electrification series
So, What Exactly Is Building Electrification?
Only one of the most important pieces of the decarbonization puzzle. A new GTM series helps explain the weird and wonderful world of clean energy.
By Justin Gerdes, GreenTech Media
June 5, 2020

Buildings were first electrified nearly 150 years ago. So, why is it that “building electrification” is now among the energy industry’s most popular buzzwords?

Most buildings run on multiple fuels. They use electricity to power lights, refrigerators and electronic devices. And they consume fossil fuels such as natural gas or propane to power furnaces, boilers, and water heaters.

That persistent reliance on fossil fuels makes buildings one of the largest sources of planet-warming pollution. In the United States, buildings account for roughly 40 percent of the country’s energy use and greenhouse gas emissions, and nearly half of homes rely on natural gas as their primary heating fuel.

“Building electrification,” “beneficial electrification,” or “building decarbonization” all describe shifting to use electricity rather than fossil fuels for heating and cooking. The goal of such a transition: all-electric buildings powered by solar, wind, and other sources of zero-carbon electricity.
» Read article     

NERA taking flakUtilities stay silent on proposal to federalize net metering as states call it a ‘threat’ to solar policy
By Catherine Morehouse, Utility Dive
June 4, 2020

Opposition is growing against a proposal that would effectively allow any customer-sited generation to be subject to federal regulation, and it’s unclear who outside the petitioner will support the proposal.

States have been particularly vocal in their opposition to the NERA petition, joined by Democratic federal lawmakers, clean energy advocates and others. Power trade associations, including Edison Electric Institute, Electric Power Supply Association and American Public Power Association have stayed largely quite thus far on how they’ll weigh in.

“APPA is still developing its response to the petition and receiving input from members,” John McCaffrey, senior regulatory counsel for APPA said Wednesday during the webinar, though public power utilities across the country do have net metering programs that would be “jeopardized” by the NERA filing.

“At a very high level, when it comes to distributed energy resources, generally APPA has consistently supported policies that allow decisions to be made at the local level,” he said, adding that “granting the petition would be essentially the opposite of that position.”

EPSA said it’s also still developing its response to the petition and EEI did not respond to a request for comment.
» Read article    

Floaty McFloatface
A New Weapon Against Climate Change May Float
The wind power industry sees an opportunity in allowing windmills to be pushed into deeper water.
By Stanley Reed, New York Times
June 4, 2020

Generating electricity from wind began on land, but developers, led by Orsted of Denmark, started venturing into the sea in the early 1990s as they sought wide-open spaces and to escape the objections of neighbors to having a twirling monster next door.

Three decades later, offshore is now the fastest-growing segment of the wind business, but marine wind farms have been limited to water shallow enough to allow turbines to sit on piles or other supports on the sea bottom. About 200 feet in depth is the outer limit for such devices, people in the industry say.

If platforms could be put almost anywhere at sea, “we can go to areas where we have never before harnessed the wind,” said José Pinheiro, the project director of WindFloat Atlantic.

How large a weapon in the battle against climate change could this industry become? Analysts at the International Energy Agency, a Paris-based group, estimated that if floating technology were widely adopted, the industry would have the technical potential to eventually supply the equivalent of 11 times the world’s demand for electric power. Electricity generation is both a source of emissions and a potential means of reducing them. Many analysts say that powering everything from cars to factories with clean electricity will need to play a big role in achieving climate goals.
» Read article     

NGrid slow jamNational Grid Releases Latest Results on Massachusetts Distributed Solar ‘Cluster’ Study
Most, but not all, of the studied solar projects can move forward without added cost.
By Emma Foehringer Merchant, GreenTech Media
May 29, 2020

National Grid on Friday released results of the second phase of an extended solar interconnection study that has entangled nearly 1 gigawatt of projects in Massachusetts over the last year, and stymied development for some.

Over 300 megawatts of projects may move forward without additional costs, the utility said, while another 90 megawatts of distributed solar projects will require developers to shoulder some transmission-level investments in order to connect projects to the grid.

Those extra costs range from less than $1 million for a group of five projects up to a maximum of $75 million for another set of 12 projects that total 45.8 megawatts. National Grid estimated the latter group would need to wait five to seven years to interconnect while those updates happen.

The significant costs and extended timeline will almost certainly push developers to drop projects in that 45.8-megawatt group, said Austin Perea, a senior solar analyst at Wood Mackenzie Power & Renewables. Already, attrition has shrunk the second phase of the study from 565 megawatts last August to its current total of 391 megawatts.
» Read article     

» More about clean energy

ENERGY STORAGE

bring yer own
Green Mountain Power expands BYOD and Tesla battery programs as it targets fossil peakers
By Iulia Gheorghiu, Utility Dive
May 26, 2020

Vermont regulators approved on Wednesday a Green Mountain Power program that offers rates for customer-sited battery storage, including a bring your own device (BYOD) option.

Starting June 5, customers can enroll in GMP’s Tesla Powerwall program or subscribe to rates with their own storage system for the next 15 years, based on GMP’s previous pilots. The utility claims to be the first in the country to use customer-sited stored energy to lower peak energy use across its system, lowering costs for all customers.

GMP has 13 to 14 MW of distributed, small-scale residential batteries on its grid, and about 100 MW of peaking facilities, [Josh Castonguay, chief officer of innovation at GMP] said. The utility partnered with Tesla nearly five years ago, to unlock the potential of small-scale storage to address energy demand peaks, but discussions with local installers led to the creation of a BYOD pilot and program as well.

The BYOD tariff could add up to 5 MW of stored energy annually. On the Tesla Powerwall partnership, the utility would add up to 1,000 Powerwall batteries per year, totaling 5 MW and just over 13 MWh.
» Read article     

battery storage on landfills
Landfills emerge as promising battery storage sites to back up renewable energy
Like solar panels, batteries may present a new revenue stream for closed landfills. Projects are complete, or underway, in multiple states.
By Matthew Bandyk, Utility Dive
May 26, 2020

Solar panel installations have been one of the fastest-growing types of energy infrastructure in recent years and landfills have become fitting sites due to the sheer amount of land required. Now, for many of the same reasons, energy project developers are looking to landfills for a technology growing even faster than solar: battery storage.

States like California, New York and Massachusetts have embraced aggressive goals for reducing carbon emissions, requiring a quick transition to renewable energy as the primary source of electricity over the next several decades. That shift will require storage, such as large lithium-ion batteries, to compensate for the intermittency of wind and solar. Batteries can charge up from solar panels when the sun is shining, and then dispatch that energy at other times — at night or on cloudy days — when the panels are not producing energy.
» Read article     

» More about energy storage

FOSSIL FUEL INDUSTRY

what authentic means
Is BP Really Changing? Or Is Its New Climate Message Just “Beyond Petroleum” All Over Again?
By Amy Westervelt, Drilled News
June 6, 2020

Bernard Looney has had a pretty wild first six months as the new CEO of BP. Just two months after taking the helm of the world’s fifth largest oil major, an international price war spilled over into a global pandemic, sending the price per barrel of oil into negative numbers for the first time ever.

Before all that, Looney had been gearing up to take on the issue everyone presumed would dominate his first few years: climate change. Or to put a finer point on it: balancing the need to act on climate change, or at least appear to be acting on climate change, with continuing to pay shareholders the dividends they expect. BP is on the hook for about $8 billion in dividends a year. The pandemic makes it that much harder to balance the two, but Looney is still talking as though leading the world’s transition to cleaner energy is his primary goal. Let’s take a closer look.

Looney’s repositioning of BP started with a February announcement that BP would achieve “net zero” carbon emissions by 2050. He also said that he planned to end the firm’s controversial “Keep Advancing” and “Possibilities Everywhere” ad campaigns, and swore off putting a fake green sheen on the company’s image forever more. These ads had been the focus of a suit filed in December 2019 against BP by the environmental law non-profit Client Earth, accusing the company of misleading consumers about not only its efforts to reduce emissions, but also the climate benefits of natural gas, and the need for it alongside renewables.
» Read article     

petrochem pausePandemic exposes cracks in oil majors’ bet on plastic
By Joe Brock, Reuters
June 4, 2020

SINGAPORE (Reuters) – The energy industry’s bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.

While soaring demand for personal protective equipment and takeaway food containers has boosted sales of some plastics, it is likely to be only a temporary spike, say analysts.

In the longer term, a virus-led hit to economic growth in Asian, African and Latin American markets threatens demand at a time when the industry is already facing bans on single-use plastic that are spreading across the world.

Plastic resin prices, which have been declining over the past two years, have plunged further since the coronavirus hit, an added challenge for investments of hundreds of billions of dollars in petrochemical capacity over the past decade.

“The petrochemicals world has been hit by a double whammy,” said Utpal Sheth, Executive Director, Chemical and Plastics Insights at data firm IHS Markit.

“Capital investment has been slashed by all companies. This will delay the projects under construction and new projects.”
» Read article     

crashable
Coronavirus crisis could cause $25tn fossil fuel industry collapse
Value of reserves could fall by two-thirds as Covid-19 hastens peak in demand, study shows
By Jillian Ambrose, The Guardian
June 3, 2020

The coronavirus outbreak could trigger a $25tn (£20tn) collapse in the fossil fuel industry by accelerating a terminal decline for the world’s most polluting companies.

A study has found that the value of the world’s fossil fuel reserves could fall by two-thirds, sooner than the industry expects, because the Covid-19 crisis has hastened the peak for oil, gas and coal demand.

The looming fossil fuel collapse could pose “a significant threat to global financial stability” by wiping out the market value of fossil fuel companies, according to financial thinktank Carbon Tracker.

The report predicts a 2% decline in demand for fossil fuels every year could cause the future profits of oil, gas and coal companies to collapse from an estimated $39tn to just $14tn.

It warns that a blow to fossil fuel companies could send shockwaves through the global economy because their market value makes up a quarter of the world’s equity markets and they owe trillions of dollars to the world’s banks.
» Read article     

» More about fossil fuels

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